TUESDAY, MAY 21, 1991
HONG
KONG'S INWARD AND
"AMONG HONG KONG'S TOP 20 TRADING PARTNERS, 12 ARE ON THE PECU. IN FACT, THE MAIN SOURCES AND RECIPIENTS OF OUTWARD INVESTMENT FLOWS ARE REPRESENTED IN THIS MEETING,
**
ENABLED
MR WONG SAID HONG KONG'S GEOGRAPHICAL POSITION AS A
AMERICA AND EUROPE NORTH BETWEEN THE TIME GAP INSTITUTIONS IN HONG KONG TO TRADE ROUND-THE-CLOCK.
HE SAID.
BRIDGE IN FINANCIAL
IN THE WORLD AND THE REGION IN TERMS OF
"OUR GOLD MARKET IS AMONG THE LARGEST HONG KONG STOCK MARKET RANKS THIRD IN THE ASIAN MARKET CAPITALISATION.
"ALL THIS IS TAKING PLACE IN THE HEART OF ASIA AND IN
HE SAID. OF ONLY 1,000 SQUARE KILOMETRES,
AN AREÁ
T
HONG KONG
WOULD BE
HOSTING
THE 25TH
ANNUAL (ADB)
MR WONG SAID MEETING OF THE BOARD OF GOVERNORS OF THE ASIAN DEVELOPMENT BANK IN MAY NEXT YEAR.
AND A MILESTONE "IT WILL BE THE FIRST EVER HELD IN HONG KONG
GROWTH FOR THE ADB, MARKING MORE THAN 25 YEARS OF PROMOTING ECONOMIC
HE SAID. AND DEVELOPMENT IN THE ASIA-PACIFIC REGION,
I
THE PIONEER IN REGIONAL ECONOMIC MR WONG SAID THE PECC WAS
MEMBERSHIP STATUS WOULD ENCOURAGE CO-OPERATION AND HONG KONG'S NEW THE TERRITORY TO PARTICIPATE EVEN MORE FULLY IN ITS ACTIVITIES.
"NATURALLY,
WE
SEE
REGIONAL
ECONOMIC CO-OPERATION
AS
AN
IS TO
INTEGRAL PART OF THE OPEN MULTILATERAL TRADING SYSTEM: THE AIM
INHIBIT OR FRUSTRATE EXTERNAL PROMOTE TRADE AND INVESTMENT, NOT TO COMPETITION, HE SAID.
1
ALSO ADDRESSING THE GENERAL MEETING, THE CHAIRMAN OF PRUDENTIAL THE BUSINESS SECTOR IN THE ASIA INVESTMENTS LTD AND A MEMBER FROM
KONG WAS A CENTRE HONG KONG DELEGATION, DR VICTOR FUNG, SAID HONG
PRIVATE EQUITY) IN FOR VENTURE CAPITAL (DIRECT INVESTMENT FUNDS FOR SOUTHEAST ASIA.
ASIA IN 1990 BASE FOR
"OF THE TOTAL VENTURE CAPITAL POOL IN SOUTHEAST
JAPAN), HONG KONG IS THE (EXCLUDING OF US$3.5 BILLION
HE SAID. APPROXIMATELY US$1.5 BILLION,"
INVESTMENT
J
THE
MINIMAL ONE OF THE PLAYED A
HONG KONG'S ROLE DR FUNG SAID THERE WERE SEVERAL REASONS FOR
CAPITAL NETWORK IN SOUTHEAST ASIA AS A CENTRE OF THE VENTURE
AN ADVANCED COMMUNICATIONS WELL-DEVELOPED INFRASTRUCTURE, INCLUDING
WITH ENVIRONMENT, NETWORK; GOVERNMENT INTERVENTION; AND THE FACT THAT HONG KONG WAS MAIN NERVE CENTRES FOR THE "OVERSEAS CHINESE NETWORK" WHICH MAJOR ROLE IN THE ECONOMIES OF THE REGION.
THE
LAISSEZ-FAIRE
DR FUNG SAID HONG KONG WAS THE
DOMINANT GATEWAY FOR VENTURE
CAPITAL INVESTMENT INTO CHINA.
INVESTMENT SYMBIOTIC ECONOMIC
HE SAID HONG KONG WOULD ACT AS THE CONDUIT FOR THIS TO
LOCATION AND TO ITS ITS GEOGRAPHIC RELATIONSHIP WITH SOUTHERN CHINA.
DUE
/"OVER THE